Correlation Analysis Between Bursa Malaysia and NQTH

This module allows you to analyze existing cross correlation between Bursa Malaysia and NQTH. You can compare the effects of market volatilities on Bursa Malaysia and NQTH and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Bursa Malaysia with a short position of NQTH. See also your portfolio center. Please also check ongoing floating volatility patterns of Bursa Malaysia and NQTH.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Bursa Malaysia  vs.  NQTH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bursa Malaysia is expected to under-perform the NQTH. In addition to that, Bursa Malaysia is 1.74 times more volatile than NQTH. It trades about -0.29 of its total potential returns per unit of risk. NQTH is currently generating about -0.36 per unit of volatility. If you would invest  119,252  in NQTH on May 21, 2018 and sell it today you would lose (9,883)  from holding NQTH or give up 8.29% of portfolio value over 30 days.

Pair Corralation between Bursa Malaysia and NQTH

0.47
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy63.33%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bursa Malaysia and NQTH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQTH and Bursa Malaysia is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Bursa Malaysia are associated (or correlated) with NQTH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQTH has no effect on the direction of Bursa Malaysia i.e. Bursa Malaysia and NQTH go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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